Promoters allocated 29,48,555 bonus shares of this multibagger iron & steel company with 4,600 per cent returns; Capacity expansion worth Rs 1,310 crore in line-up!
The stock gave multibagger returns of over 8,000 per cent in 3 years and a whopping 4,600 per cent in a decade.
Founded in 1991, JTL Industries Ltd has quickly risen to become a leading steel tube manufacturer in India, boasting 4 state-of-the-art facilities, 10 brands, and a diverse product range serving 7 industries across B2B, B2G, OEM, and international markets. With 1,000+ SKUs, 600+ skilled employees, and a reach spanning 800+ dealers and 20+ countries, JTL is primed for future expansion thanks to its vast landbank and commitment to innovation.
The Securities Issue and Allotment Committee of the Company, in its meeting on February 28, 2024, has approved the allotment of 29,48,555 fully paid equity shares (face value Rs 2 each) following a conversion of warrants. Allottees are also entitled to an equal number of bonus shares (29,48,555) in a 1:1 ratio. As a result, the Company's Issued, Subscribed, and Paid-up Equity Share Capital now totals Rs 35,40,21,660, comprising 17,70,10,830 equity shares (Rs 2 each). These new shares hold equal status with existing equity shares. For detailed disclosure, please refer to Annexure I, as mandated by Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with related SEBI circulars.
Zenith Multi Trading DMCC was allocated 27,60,000 shares, Mr Surinder Kumar was allocated 33,000 shares, Mr Neeraj Bansal was allocated 33,000 shares, Ms Sarika Gupta was allocated 25,000 shares, Ankur Gupta HUF was allocated 25,000 shares, Mr Dharmin Rajesh Shah was allocated 25,000 shares, Mr Krishan Goyal was allocated 20,555 shares, Mr Maninder Singh was allocated 17,000 shares and Mrs Ritu Consul was allocated 10,000 shares.
Today, shares of JTL Industries Limited plunged 2.17 per cent to Rs 259.45 per share from its previous closing of Rs 265.20 with an intraday high of Rs 266.30 and an intraday low of Rs 257.45. The stock’s 52-week high is Rs 276.60 and its 52-week low is Rs 142.75.
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According to Quarterly Results, the net sales increased by 65.26 per cent to Rs 567.35 crore and net profit increased by 47.24 per cent to Rs 30.18 crore in Q3FY24 compared to Q3FY23. According to the nine-month results (9MFY24), the net sales increased by 46.1 per cent to Rs 1,574.3 crore and net profit increased by 56.1 per cent to Rs 83.5 crore in 9M FY24 compared to 9M FY23. The net sales increased by 15 per cent to Rs 1,547 crore and net profit increased by 48 per cent to Rs 90 crore in FY23 compared to FY22.
JTL Industries blew past all previous sales records in Q3FY24, achieving a record-breaking volume of 1,00,905 MT thanks to skyrocketing demand for steel pipes and tubes. This 76 per cent year-over-year surge extends to year-to-date performance, exceeding the entire FY23 volume in just 9 months with a 62 per cent YoY jump. To capitalize on this momentum, JTL is investing a whopping Rs 1310 crore in a mega-expansion project that will significantly boost its manufacturing capacity and diversify its offerings, solidifying its position as the undisputed leader in the structural steel market.
The stock gave multibagger returns of over 8,000 per cent in 3 years and a whopping 4,600 per cent in a decade. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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